The Technology Implications Of IFRS 17

Insurers around the globe are closely studying and intensely debating the new International Financial Reporting Standard (IFRS) 17 for insurance contracts. The new accounting standard will dramatically change insurers’ financial reporting processes. Yet many insurers are still wrestling with the challenges of its implementation.

In this article, Moody’s Analytics Trevor Howes, actuarial director, explores how insurers are studying the new IFRS 17 for insurance contracts and how successful implementation will depend on the cloud.